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Laramar Group Acquires 304-Unit Multifamily In Orlando For $51.2M

Property Image
SOLD
$51,200,000
Avery Jordan
Mark Savarese
+ 1

Florida

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MultiFamily
Sold 02/08/2022
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Property Image
SOLD

Laramar Group Acquires 304-Unit Multifamily In Orlando For $51.2M

4746 Rio Grande Avenue, Orlando, Florida 32805, United States

See Similar Deals
MultiFamily
Sold 02/08/2022
Avery Jordan
Mark Savarese
+ 1
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 4746 Rio Grande Ave in Orlando has been sold for a price of $51,200,000. The property consists of 304 units, with a price per unit of $168,421. The sale was facilitated by brokers Darron Kattan, Zach Ames, Avery Jordan, and Mark Savarese from Franklin Street.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $51,200,000
  • Units: 304
  • Price Per Unit: $168,421
  • Date: 02/08/2022
  • Address: 4746 Rio Grande Ave, Orlando
  • Buyer: Laramar Group - Matthew Kreikemeier
  • Seller: Dominium
  • Brokers: Darron Kattan, Zach Ames, Avery Jordan, and Mark Savarese - Franklin Street

The buyer of the property is the Laramar Group, represented by Matthew Kreikemeier. The seller is Dominium. The transaction involved multiple brokers, namely Darron Kattan, Zach Ames, Avery Jordan, and Mark Savarese from Franklin Street. The deal was closed on 02/08/2022.

Players

Darron Kattan
15 deals$376M volume
BROKER

Zachary (Zach) Ames
Franklin Street
10 deals$316.1M volume
BROKER

Avery Jordan
Franklin Street
11 deals$283.7M volume
BROKER

Mark Savarese
Franklin Street
8 deals$251M volume
BROKER

BUYER

SELLER

Details

SOLD
IMAGE: Mark Savarese, Avery Jordan, Matthew Kreikemeier, Zach Ames & Darron Kattan DATE: 02/08/2022 ADDRESS: 4746 Rio Grande Ave MARKET: Orlando ASSET TYPE: Multifamily BUYER: Laramar Group - Matthew Kreikemeier SELLER: Dominium BROKERS: Darron Kattan, Zach Ames, Avery Jordan & Mark Savarese - Franklin Street SALE PRICE: $51,200,000 UNITS: 304 ~ PPU: $168,421

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,730,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$181,902.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$242,714.12
Annual Debt Service$2,912,569.45